Beccar Varela advised Quintana Group on securing US$30,000,000 in financing from Trafigura Argentina S.A. through a crude oil prepayment structure and certain agreements, aimed at supporting the development of the new natural gas demand in Argentina and the region.
The funds will be used by Quintana Group for: (a) The acquisition of mature conventional fields sold by YPF S.A. under the Andes Project, including: (i) Estación Fernández Oro; and (ii) Mendoza Sur Cluster; and (b) Working capital necessary for business expansion.
The loan was granted by Trafigura under a prepayment arrangement for crude oil acquired pursuant to the commercial contract previously entered into between Quintana Group and Trafigura for the sale of Medanito crude oil, sourced from the Estación Fernández Oro area. This financing structure is commonly used by Trafigura worldwide, and in Argentina, it is applied not only to crude oil for the local market but also for international trade. This financing scheme is an agile and effective mechanism to drive the growth of producers and strengthen the industry. This transaction represents the second financing provided by Trafigura to Quintana Group since 2021.
Legal Advisors to Quintana Group
In-house Legal Team. Legal Director: Inés Moronta.
External Legal Counsel: Beccar Varela. Partner: Pedro Silvestri. Associates: Sofía Gallo and Mora Mangiaterra Pizarro.